[Ensure you have all the info you need in these unprecedented times. Subscribe now.]
Caterpillar Inc.’s machinery sales dropped by the most in 10 years last month in a sign of a deepening slump in its Americas businesses, where the company has extended plant shutdowns.
Retail receipts in North America fell 36% on a rolling three-month basis, the most since January 2010, the company said in a government filing June 12. Sales in Latin America had the biggest decline since December 2016. Overall global sales dropped by the most since early 2010.
The figures underscore concerns over prospects for a halting recovery at the heavy-equipment maker after coronavirus shutdowns dented the profit outlooks for miners and construction companies. The data comes on the heels of a report that the Deerfield, Ill.-based company is keeping some of its plants across North and South America shut for longer than expected.
BMO Capital Markets analyst Joel Tiss earlier downgraded Caterpillar’s stock to the equivalent of a hold, citing a “catatonic recovery.” Near-term recovery of the company’s end markets will be challenged by customers’ budgetary constraints and stretched government finances, Tiss said.
“These factors will likely overwhelm the myriad internal improvements occurring at the company, at least for the next few years,” Tiss said in the note.
CEO Jim Umpleby took the helm at the start of 2017 with a focus on boosting efficiency and profit margins, and expanding services to help offset the traditionally cyclical nature of the bellwether producer’s markets. In an earnings call in April, Umpleby departed from his normally staid commentary to warn analysts of a “severe and chaotic” impact from the crisis.
Caterpillar’s stock is down about 16% this year. Shares rose more than 2% in New York on the morning of June 12 as the broader equity markets advanced.
Want more news? Listen to today’s daily briefing:
How Car Tires Are Manufactured
🚗 Cars are complex machines, each part made in highly specialized and specific ways, car tires included. Here is how car tires are manufactured.
🚕 Car tires are the part of your vehicle that keeps you moving forward. But have you ever wondered about how car tires are manufactured? Read ahead for a quick overview of the process.
❋ Design and Plan 👇
Designing the item you plan to manufacture is the first part of any industrial process. Car tires have been around for a long time now, and the manufacturing process is becoming increasingly digital. The design is usually created through engineering software, and the dimensions and curvature are handled with precision. After that, the tire-making machines receive this digitized format.
❋ Select Materials 👇
Most tires consist largely of rubber, both natural and synthetic. Oils, pigments, antioxidants, and other materials mix with the rubber to create each part of the tire. Tires must be crafted from quality, durable materials, including chemical agents, metallic cables, and fabric reinforcers.
❋ Melt and Mold 👇
Heat and friction work together to produce the final rubber composite that will mold the other parts of the tire. Tires are not one singular piece of rubber—they contain tread rubber, sidewall rubber, fabric-coated plies, and bead wires, among other components. A factory worker or automated apparatus then uses a tire-building machine in the shape of a collapsible drum to glue and set the tires. Finally, the tires cure over time, and subsequent heating and steaming help them fully coalesce
❋ Distribute Widely 👇
Quality control is important with tires—after all, tires must handle transporting drivers for thousands of miles on the road. After rigorous testing, the manufacturer packs the tires and distributes them to various sellers. These include tire stores all across the United States, from Trenton, New Jersey to Anderson, Indiana.
🟥 Knowing how car tires are manufactured can help you better select the parts for your vehicle. Because all cars are different and have specific needs, you should consult with a tire expert before choosing your next set of wheels.
👉↘ Source: Christina Duron is a freelance writer for multiple online publications where she can showcase her affinity for all things digital. She has focused her career around digital marketing and writes to explore topics that spark her interest.
Feast your eyes on the all-new, all-electric GMC Hummer EV
GMC has a new all-electric version of its classic Hummer oversized SUV. This thing is a beast, as you might expect, with an advertised 350-mile range and a 3-second zero to 60 mph time. It’s a bit ridiculous to be honest, which is kind of what the Hummer has always been about so that makes sense.
Alongside a teaser, GMC released a number of press photos of the 1,000 HP bruiser, so take a look below. It definitely looks like a Hummer – which may or may not be your cup of tea.
ALYI Highlights Next Steps
Dallas, TX – October 20, 2020 – OTC PR WIRE – Alternet Systems, Inc. (OTC PINK: ALYI) today announced plans to publish a comprehensive progress update next week targeting a Wednesday, October 28th release date.
Management indicates a number of major endeavors underway in important stages of development to include RevoltTOKEN financing partner’s efforts to finalize ICO details, next steps after finalizing the multiparty milestone agreement announced last week, and a new design path development for the company’s long-term plans for future electric vehicles in Africa.
Management anticipates wrapping up details on the above-mentioned endeavors by next Wednesday and being ready to release a comprehensive update.
For more information and to stay up to date on ALYI’s latest developments, please visit www.alternetsystemsinc.com.
Disclaimer/Safe Harbor: This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company’s current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the companies’ liquidity position, the companies’ ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.
Alternet Systems, Inc. Contact:
How to get the Reins of Unity in Pokémon Sword and Shield’s The Crown Tundra expansion
Heroic beat Astralis to complete lower bracket gauntlet, reach final at DreamHack Open Fall
How to get Victini in Pokémon Sword and Shield’s The Crown Tundra expansion
How to “head to the Giant’s Bed to find the Mayor” in Pokémon Sword and Shield’s The Crown Tundra expansion
How to complete Legendary Clue? 4 and catch Necrozma in Pokémon Sword and Shield’s The Crown Tundra expansion
TSM Doublelift: “The entire Worlds experience after the first week, we probably had a 10-percent win rate in scrims”
Call of Duty: Warzone players report game-breaking glitch at the start of matches
All Minecraft MC Championship 11 teams
Washington Justice re-signs Decay, acquires Mag
Silver Lining Warzone Blueprint: How to Get
League of Legends pros react to Bjergsen’s retirement announcement
Comstock Warzone Blueprint: How to Get
Concerns Arise as North Korea’s Financial Services Commission Unsure of Its Cryptocurrency Mandate
Genshin Impact Resin System Change Introduced in Latest Patch
Revolution Warzone Blueprint: How to Get and Build
Red Crown Warzone Blueprint: How to Get
Animal Crossing’s Turnip Prices Will Hit All-Time High on ‘ Ally Island’
Black Ops Cold War Playstation Exclusive Zombie Mode Teased
BR Solo Survivor Warzone Mode Recently Added
Blinding Lights Fortnite Emote: How Much Does it Cost?
Madden 21 ‘Why Can’t I Sign Into EA’ Solved
G2 close in on NiKo deal
Lyngby Vikings replace ENCE in Elisa Invitational; new groups and schedule revealed
Madden 2 ‘In Order to Access The Online Features:’ How to Fix the Bug
Apex Legends Switch Delayed Again
Pokémon GO Colorful Pokémon Are Revealed
Virtus.pro extend unbeaten streak with win over NAVI to reach IEM New York CIS grand final
Heroic eliminate NiP; to face Astralis in DreamHack Open Fall consolidation final
Kik Survives Legal Battle With the SEC, Kin Crypto to Continue Trading on Exchanges
How to Play With Friends Online in Dynamax Adventures in Pokémon Sword and Shield The Crown Tundra
How to Separate and Rejoin Calyrex from Glastrier or Spectrier in Pokémon Sword and Shield Crown Tundra
Grand Opening of the 25th China (Guzhen) International Lighting Fair
All increased spawns, encounters, and event raids for the Pokémon Go Halloween Event
All Timed Research tasks and rewards in Pokémon Go’s 2020 Halloween event
All ‘A Spooky Message Unmasked’ Special Research tasks and rewards in Pokémon Go
Unity announces plans to release experimental version of Unity OpenXR early next year
World’s Sole Owner of PERKLONE and TRIKLONE Now Supplying Saudi Arabia Oil & Petroleum Refineries; PERKLONE EXT; Catalyst grade, UOP Approved
Complexity Gaming Signs Jks From 100 Thieves
People’s Bank of China Seeks to Prohibit the Creation of Digital Tokens
EV Charge Holding Limited sichert sich 15 Millionen Euro von GEM
Techcrunch1 week ago
Original Content podcast: It’s hard to resist the silliness of ‘Emily in Paris’
Startups1 week ago
Solve the ‘dead equity’ problem with a longer founder vesting schedule
Startups1 week ago
Three views on the future of media startups
Startups1 week ago
Pear hosted its invite-only demo day online this year; here’s what you might have missed
Blockchain4 days ago
Bitcoinnami Officially Launches on October 21, 2020
AI1 week ago
How AI Revolutionize the Way Video Games Developed and Played
Startups1 week ago
VCs reload ahead of the election as unicorns power ahead
AR/VR1 week ago
‘Blaston’ is a Fantastically Creative VR ‘Shooter’ That’s All About Making You Move